More than £8 million of the debt is more than a year old
Treasury is owed more than £18 million in outstanding Income Tax payments from the past three financial years.
It's been accrued between 31 March 2021 and 28 March 2024.
As of the end of 2023’s financial year, £8.2 million had been outstanding for more than a year.
Meanwhile debt less than a month old stood at £1.6 million.
Over the past three fiscal years just over £1 billion was generated from income tax receipts.
- 2020/21 - £237.7 million
- 2021/22 – £243.4 million
- 2022/23 - £276.3 million
- £2023/24 - £324.9 million (unaudited)
Debt can be outstanding for a number of years and includes debt in the hands of the coroners.
In comparison, since 2014, Income Tax has generated around £2.4 billion.
In response to a written Tynwald question, tabled by Onchan MHK Julie Edge, Treasury Minister Alex Allinson said: “When a taxpayer does not pay Income Tax by the due date, a reminder and subsequently a final demand is made. If payment is not received the case is referred to the Debt Collection Team.
“This team will attempt to agree a fair and affordable solution for the taxpayer to repay the debt owed.
"In a small number of cases where agreement cannot be reached the team will issue a warrant to the coroner.”
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